Discover Bank
Discover Bank 1 Year CD Rates
| Type | Fixed |
| Rate | 4.50% |
| Currency | USD |
Website: http://www.discoverbank.com
Authority: Discover Bank is an online bank in the United States and is the direct banking subsidiary within Discover Financial Services, a US financial services company that is a major credit card issuer and operator of the Pulse and DIscover Networks.
How to open a Discover Bank Certificate of Deposit:
- Existing and new customers can open a CD account on the Discover Bank website with technical support available on 1-800-347-9885
- You can also open an account by telephone on 1-800-347-7000
- You can correspond for new accounts and deposits through regular mail at:
Discover Bank, PO Box 30417, Salt Lake City, UT 84130
What information you may require for your application to open a US Discover Bank CD Account:
- You will be required to provide personal information (name, home address, home phone, email address, occupation) and Security information, (Date of Birth to verify you are at least 18 years old, Social Security Number)
Information to consider regarding Interest on DIscover 1 Year CD Rates:
Discover Bank like other US banks is affected by a number of factors when determining the rate it will pay on its one year CDs. Some of these factors include the current and future Federal Reserve fed funds rate, competition for deposits, regulations, net interest income margins and liquidity and funding requirements. While Discover Bank receives some of its deposits through direct-to-consumer deposit funding, it can be impacted from competition from other financial services firms that also use deposit funding and it may offer higher interest rates to attract or maintain deposits, which could also affect its funding costs.
Another factor depends on the capital levels of Discover Bank. The FDIA/FDIC restricts a bank, including Discover Bank, from allowing them to offer interest rates on certificates of deposits significantly higher than the prevailing national rate unless they are well-capitalized. (sourced FDIC.gov) Regulators can also adjust various requirements on the definition to be well capitalized at any time which can also affect the interest rate that they may pay on deposits.
The current interest for this CD product is for a 12 month term with a minimum of $2,500 to open up this 1 year Discover Bank CD Account.
The rate of 4.50% is 4.5% higher than the average 0%. Also it is -4.5 % lower than the highest rate Updated Mar, 2023
Website: http://www.discoverbank.com
Authority: Discover Bank is an online bank in the United States and is the direct banking subsidiary within Discover Financial Services, a US financial services company that is a major credit card issuer and operator of the Pulse and DIscover Networks.
How to open a Discover Bank Certificate of Deposit:
- Existing and new customers can open a CD account on the Discover Bank website with technical support available on 1-800-347-9885
- You can also open an account by telephone on 1-800-347-7000
- You can correspond for new accounts and deposits through regular mail at:
Discover Bank, PO Box 30417, Salt Lake City, UT 84130
What information you may require for your application to open a US Discover Bank CD Account:
- You will be required to provide personal information (name, home address, home phone, email address, occupation) and Security information, (Date of Birth to verify you are at least 18 years old, Social Security Number)
Information to consider regarding Interest on DIscover 1 Year CD Rates:
Discover Bank like other US banks is affected by a number of factors when determining the rate it will pay on its one year CDs. Some of these factors include the current and future Federal Reserve fed funds rate, competition for deposits, regulations, net interest income margins and liquidity and funding requirements. While Discover Bank receives some of its deposits through direct-to-consumer deposit funding, it can be impacted from competition from other financial services firms that also use deposit funding and it may offer higher interest rates to attract or maintain deposits, which could also affect its funding costs.
Another factor depends on the capital levels of Discover Bank. The FDIA/FDIC restricts a bank, including Discover Bank, from allowing them to offer interest rates on certificates of deposits significantly higher than the prevailing national rate unless they are well-capitalized. (sourced FDIC.gov) Regulators can also adjust various requirements on the definition to be well capitalized at any time which can also affect the interest rate that they may pay on deposits.
The current interest for this CD product is for a 12 month term with a minimum of $2,500 to open up this 1 year Discover Bank CD Account.
The rate of 4.50% is 4.5% higher than the average 0%. Also it is -4.5 % lower than the highest rate Updated Mar, 2023
Type
Fixed
Rate
4.50%
Currency
USD
Q: whats my return on a cd for 6 months iniyial deposit of 1000
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